LIC Kanyadan Policy: Save 121 Daily and Build 27 Lakh for Your Daughter Future
LIC Kanyadan Policy: A Thoughtful Investment Plan for Your Daughter’s Bright Future
Every parent wants to give their daughter the best possible start in life—be it in education, marriage, or financial security. But planning ahead financially is key to making those dreams come true without the stress of last-minute expenses.
That’s where the LIC Kanyadan Policy comes in. Designed by Life Insurance Corporation of India (LIC), this plan blends disciplined savings with life insurance coverage. It’s not just about protecting your child’s future—it’s about building a financial cushion that grows steadily over time.
Let’s dive into what makes this policy a smart pick for families looking to plan long-term.
Save ₹121 Per Day and Grow a ₹27 Lakh Fund
What if saving a small amount daily could turn into a multi-lakh corpus for your daughter?
With this plan, investing just ₹121 per day (or ₹3,600 per month) can help you build a fund of approximately ₹27 lakh or more by the time the policy matures.
This amount could cover your daughter’s higher education, wedding expenses, or even help her start a business—without having to borrow or dip into your retirement savings.
✅ Bonus Tip: Use tools like the LIC premium calculator or a SIP calculator to visualize your returns based on your preferred policy term and sum assured.
Choose a Flexible Term: 13 to 25 Years
One of the best features of the LIC Kanyadan Policy is its flexibility.
You can select a policy term between 13 to 25 years, depending on your daughter’s age and your financial goals. For example:
If your daughter is currently 2 years old and you opt for a 25-year term, she’ll receive the maturity amount when she turns 27—an ideal age for marriage or postgraduate studies.
The plan adapts to your financial comfort too. You can increase or decrease the premium when setting up the policy, and your returns will adjust accordingly.
Built-In Life Cover for Extra Security
Unlike a regular savings plan, the Kanyadan Policy also includes life insurance coverage. In case the policyholder (usually the father) passes away during the policy term, LIC ensures the family doesn’t face financial hardship.
Here’s what happens:
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A lump sum amount up to ₹10 lakh is paid to the nominee
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All future premiums are waived
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The nominee still receives the full maturity benefit at the end of the term
This dual feature—protection + savings—makes the policy a powerful financial planning tool.
Enjoy Tax Benefits Under Section 80C
Another perk? The plan qualifies for tax deductions under Section 80C of the Income Tax Act, 1961.
That means you can claim deductions of up to ₹1.5 lakh on the premium paid every year, reducing your taxable income and helping you save more in the long run.
Also, the maturity amount is generally tax-free under Section 10(10D), subject to certain conditions—making it a tax-efficient option as well.
Who’s Eligible for the LIC Kanyadan Plan?
To purchase this policy, there are some basic eligibility criteria:
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Father’s age: Minimum 30 years
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Daughter’s age: At least 1 year
📌 Documents required:
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Aadhaar card or valid government ID
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Proof of residence
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Income certificate
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Daughter’s birth certificate
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Passport-size photographs
Frequently Asked Questions (FAQs)
Q1. What happens if I miss a premium payment?
LIC usually offers a grace period of up to 30 days for premium payments. If the payment is not made during this time, the policy may lapse. However, lapsed policies can often be revived within a specific timeframe with interest.
Q2. Can the policy be transferred to the daughter’s name later?
No, the policy remains in the father’s name as the proposer. The daughter is the beneficiary (nominee). The payout goes directly to her if she is legally eligible at the time of maturity or through a legal guardian.
Q3. Is this plan better than Sukanya Samriddhi Yojana?
Both plans have their own advantages. Sukanya Samriddhi offers a higher interest rate and is government-backed, while LIC Kanyadan provides life insurance along with savings, making it a safer choice if you’re looking for both protection and long-term returns.
Final Thoughts
LIC’s Kanyadan Policy is more than just a life insurance plan—it’s a comprehensive, low-risk investment that helps secure your daughter’s future with consistency and peace of mind. Whether you’re planning early for her education or saving for marriage expenses, this plan makes it easier to stay financially prepared.
Remember, financial planning is not just about saving money. It’s about building confidence in your family’s future. The earlier you start, the greater the rewards.
👉 Take action today: Talk to a licensed LIC advisor or visit your nearest branch to get started with the Kanyadan Policy.
